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How much are you willing to pay for an app that protects your privacy?




A woman looks at an Apple iPhone at one of the company's stores in Paris, on December 20, 2013.
A woman looks at an Apple iPhone at one of the company's stores in Paris, on December 20, 2013.
PATRICK KOVARIK/AFP/Getty Images

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Economists Scott Savage and Donald Waldman have looked into that very question in their study, “The Value of Online Privacy.”

They surveyed over 1,700 smartphone users and found that most respondents were willing to pay for a smartphone app that safeguards their private information.

How much, though, depended on the kind of data they wanted to protect. For example, consumers would pay around $2.25 for an app that won’t record their browser history; a little over $2.10 for an ad-free app; and about $4.00 for an app that wouldn’t be able to tap into their contact lists.

What price are you willing to pay for privacy?

Guest:
Donald Waldman, Professor at Economics at the University of Colorado and co-author of the study